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self employed mortgage
Options

juniperberry
Posts: 23 Forumite
me again!
mortgages for self employed people(self employed for weeks rather than years)
easy to come by? I suspect not!
have 70k downpayment and looking for c120k
approach banks or brokers?? our current fixed rate deal runs out next summer....but ideally we would be looking to move in 3 months time!
Any advice ??










mortgages for self employed people(self employed for weeks rather than years)
easy to come by? I suspect not!
have 70k downpayment and looking for c120k
approach banks or brokers?? our current fixed rate deal runs out next summer....but ideally we would be looking to move in 3 months time!
Any advice ??











0
Comments
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Approach your present lender and ask about porting your existing mortgage over, and getting additional lending from them. It depends on LTV etc but it would save you paying out an ERC. I'm not sure if they'd do another full check on your income or not - would be a problem if you've only been self employed for weeks.
After you've approached them and found out your options, I'd contact an independent broker.0 -
ah thanks mate
see thats the prob, whether they would check the old income again!!!
i like that advice
CHEERS AND BEERS :beer:0 -
When I think about it, they would check the income if they were porting. Is selling up and renting an option for you?0
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my OH doesnt wanna rent (wasted money according to him)
i just dont know what to do!!!
boohoo0 -
Have you sold your existing house? Are you upsizing or downsizing? Is the present mortgage easily affordable? Are you earning? What's your credit rating like? I don't think you've given enough information for anyone really to help.
Renting isn't wasted money if it provides a roof over your head - I suppose the only other alternative is to stay where you are.0 -
i agree with u about renting!
putting house on market in a month
me not earning, OH is the self employed one
we are downsizing
present mortgage is affordable now (interest only) but we want to move as the house doesnt suit us...
yeah staying put i suppose may be the only option...i suppose for another mortgage a bank would want a few years accounts!!
Oh Well0
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